4 ms·

Wow. Maybe it's naive for me to ask, but is this even legal?

• dj_axl 14y ago
  > is this even legal? At least this is a stock, not a commodity like ahem oil.
• btian 14y ago
  Absolutely. If someone else (preferably rich) thinks that $500 doesn't justify true value of Apple, he could buy in the market, and good luck to short-sellers to borrow so many to sell. My guess is that it's just some insider selling, and it's coincidental that it closed at $500 on option expiry date. Otherwise it would be hard to explain how it ended at $486 on Wednesday.
  • kjackson2012 14y ago
    It's not legal. It's price manipulation. However, the SEC doesn't care, because it's very hard to prove.
    • travisp 14y ago
      If you're sure the price is being manipulated low or high in the short term, then you have a very easy money making opportunity.